GEL to PHP

GEL - Georgian Lari ()
PHP - Philippine Piso ()
1 GEL1 PHP

Currency conversion rates from GEL to PHP

GELPHP
1 GEL1 PHP
5 GEL5 PHP
10 GEL10 PHP
20 GEL20 PHP
50 GEL50 PHP
100 GEL100 PHP
250 GEL250 PHP
500 GEL500 PHP
1000 GEL1000 PHP
2000 GEL2000 PHP
5000 GEL5000 PHP
10000 GEL10000 PHP
PHPGEL
1 PHP1 GEL
5 PHP5 GEL
10 PHP10 GEL
20 PHP20 GEL
50 PHP50 GEL
100 PHP100 GEL
250 PHP250 GEL
500 PHP500 GEL
1000 PHP1000 GEL
2000 PHP2000 GEL
5000 PHP5000 GEL
10000 PHP10000 GEL

GEL - Georgian Lari (GEL)

The Georgian lari is the official currency of the country of Georgia. It’s most commonly converted to the US dollar. The currency code for the lari is GEL, and its sign is ლ. The sign was introduced by the Governor of the National Bank of Georgia (NBG) in July 2014. It’s a three-quartered circle open in the lower-right-hand quadrant. It has two vertical parallel lines at its crest and rests on a platform the length of its diameter. It was conceived as part of a sign design contest that began in 2013. It was meant to be easy to construct and to be reminiscent of the Georgian alphabet.

The Lari is the basic monetary unit of Georgia. The word derives from an old native word meaning hoard. It is divided into 100 teri, the currency used in Georgia during the 13th century.

The Georgian Lari is the currency in Georgia (GE, GEO). The Georgian Lari is divided into 100 tetri. The exchange rate for the Georgian Lari was last updated on May 24, 2019 from Yahoo Finance. The GEL conversion factor has 5 significant digits.

Economy

  • The largest sector of the Georgian economy is the service industry, with wholesale and retail leading the sector.
  • Other industries include agriculture, mining, manufacturing, and fishing.
  • Georgia has become a leading producer of eggs and broiler chickens, as well as a primary producer of beef cattle, hogs, and milk.
  • Although Georgia was severely damaged economically by civil strife, the country has recovered with the help of the IMF and the World Bank.
  • Since 1995, Georgia has achieved positive GDP growth and has minimized inflation.

History

  • On October 2, 1995 the Georgian Lari became the official currency of Georgia.
  • It replaced the provisional coupon currency which was the kupon Lari, the currency that had replaced the Russian Ruble on April 5, 1993.
  • Eduard Shevardnadze’s government was in power during the establishment of the currency.
  • The coins in circulation are 1, 2, 5, 10, 20, and 50 tetri, and 1 and 2 Lari.
  • Commonly used banknotes are 5, 10, 20, and 50 Lari.
  • The 1, 2, 100, and 200 Lari banknotes are rarely used.

More information about GEL - Georgian Lari (GEL)


PHP - Philippine Piso ()

The Philippine peso is the official currency of Philippines. It is commonly depicted by the symbol ₱. Written abbreviations include: PhP, Php, P$, or P. The official currency code for the peso is PHP.

The Peso is the foreign currency of the Philippines. It's subdivided into one hundred centavos. Prior to 1967, English was used on all notes and coins, hence the term “peso” was used as the name of the currency in the Philippines. When Filipino was introduced as a written language, the term used on notes and coins became “piso”.

The Philippine Peso is the currency in Philippines (PH, PHL). The symbol for PHP can be written P. The Philippine Peso is divided into 100 centavos. The exchange rate for the Philippine Peso was last updated on Today from The International Monetary Fund. The PHP conversion factor has 6 significant digits.

Economy

  • The Philippines is estimated to be the 45th largest economy in the world, with a GDP of USD$216 billion (2011). Major exports includes semiconductors and other electrical components, transport equipment, clothing, copper and petroleum products and fruits.
  • In recent times, the Philippines has been transitioning from a agricultural-based economy to one that increasingly relies on services and manufacturing. Agriculture now only accounts for roughly 30% of the workforce and about 14% of GDP.
  • The economy of the Philippines was the second largest in East Asia after World War II. However the economy stagnated until the 1990s, based on economic policies and political volatility, and other Asian countries surpassed the Philippines in terms of GDP growth.
  • In the 1990s, a new program of economic liberalization was introduced, leading to economic recovery until the 1997 Asian Financial Crisis.

History

  • Prior to the introduction of a formal currency, trade in the Philippines was performed using a barter system, and later on “piloncitos” (small pieces of gold) and gold barter rings.
  • The Spanish introduced coins to the Philippines when they colonized the country in 1521. However, the coins used by Filipino people were minted in various Spanish countries around the world, leading to major inconsistencies in purity and weight.
  • In 1861, the first mint was established in order to standardized coinage.
  • After the Philippines gained independence in 1898, the country’s first local currency was introduced, replacing the Spanish-Filipino Peso.
  • The United States captured the Philippines in 1901, and established a new unit of currency that was pegged to exactly half of a US Dollar in 1903.
  • During World War II, the Philippines was occupied by Japan, and new notes were introduced yet again.
  • The Central Bank of the Philippines was established in 1949, leading to the reintroduction of a formal Filipino currency.

More information about PHP - Philippine Piso ()